Spotlight

Indian equity markets are set to begin the week on a cautious footing as persistent Middle East tensions and elevated crude oil prices continue to temper risk appetite. Crude prices remain firm, with WTI trading near $86 a barrel as markets brace for fresh U.S. sanctions against Iran amid an already prolonged geopolitical standoff. Early indications from GIFT Nifty futures, trading in the 24,300–24,350 range against the Nifty's previous close of 24,252, suggest a largely flat to marginally positive start for domestic equities.

Middle East tensions continue to shape the broader market mood. Iran has warned of retaliation against countries participating in the U.S. "economic war," reinforcing concerns that the confrontation could deepen rather than ease in the near term. For Indian investors, the prolonged U.S.-Iran standoff and its implications for energy prices remain a key source of uncertainty.

Asian markets are trading softer in early dealings, offering little support to the domestic setup. Japan's Nikkei 225 is down more than 0.5%, while South Korea's Kospi has fallen around 1.5%. Technology stocks are also likely to remain in focus as Asia enters a busy earnings week, with investors looking to corporate results for evidence that the heavy investment cycle surrounding artificial intelligence can sustain its momentum.

Meanwhile, gold continues to trade near a three-month high, holding above $4,600 an ounce as persistent geopolitical uncertainty sustains demand for safe-haven assets.

Technical view

Nifty 50

Nifty 50 is likely to maintain a range-bound bias, with the index continuing to face selling pressure at higher levels. From a technical perspective, the 24,300 region remains the immediate resistance zone. A sustained breakout above 24,400 would strengthen the recovery momentum and could pave the way towards 24,500–24,600. Until the index decisively reclaims this zone, recovery attempts are likely to remain subdued and face selling pressure at higher levels.
 
On the downside, 24,200–24,100 remains the crucial support region. Holding above 24,000 will be important to preserve the recent recovery structure, while a decisive break below this level could revive the short-term bearish bias and expose the index to lower support levels. Overall, the near-term technical outlook remains cautious to range-bound. Sustained buying above 24,400 would be required to establish stronger bullish momentum, while failure to reclaim the resistance zone could keep the index subdued.

Bank Nifty

Bank Nifty is expected to maintain a comparatively stronger technical setup, with the index continuing to demonstrate relative resilience. However, the broader structure remains range-bound, with the index facing resistance at higher levels. From a technical perspective, the 57,800–58,000 zone remains the immediate resistance area. A sustained breakout above 58,000 could strengthen buying momentum and pave the way for an advance towards the 58,300–58,500 region.  
 
On the downside, 57,400–57,300 remains the immediate support zone, followed by the stronger 57,100–57,000 region. Holding above these levels will be important to preserve the prevailing recovery structure, while a decisive break below 57,000 could trigger renewed selling pressure and weaken the near-term technical bias. Overall, the near-term outlook for Bank Nifty remains cautiously constructive, with 58,000 acting as the immediate breakout trigger and 57,000 serving as the key downside support.